As the world’s population lives longer, it will become increasingly important for plan sponsors, ... more As the world’s population lives longer, it will become increasingly important for plan sponsors, retirement advisors, regulators, and financial firms to focus closely on how older persons fare in the face of rising difficulties with cognition and financial management. This book offers state-of-the-art research and recommendations on how to evaluate when older persons need financial advice, help them make better financial decisions, and to identify policy options for handling these individual and social challenges efficiently and fairly. This latest volume in the Pension Research Council series draws lessons from theory and practice, and will be of interest to employees and retirees, consumers and researchers, and financial institutions working to design better retirement plan offerings.
Risk infuses everything we do so it goes almost without saying (but I’ll say it anyway) that risk... more Risk infuses everything we do so it goes almost without saying (but I’ll say it anyway) that risk and retirement are highly intertwined topics. If we define what retirement researchers and practitioners do as illuminating and improving lifetime financial security, then risk is at its heart. How can we improve the chances of good outcomes while accounting for, or more hopefully controlling for, the risk of poor outcomes?
Under the traditional approach to defined benefit plans, well-intended disciplinary and regulator... more Under the traditional approach to defined benefit plans, well-intended disciplinary and regulatory regimes have sought to restrict discretion, reduce uncertainty and risk, and protect workers and employers. Nevertheless, the discouraging state of defined benefit plans indicates that past efforts have gone awry. This chapter suggests that a new approach to defined benefit plans could resurrect the key elements required for retirement income security, rather than pursuing piecemeal reform.
As the world’s population lives longer, it will become increasingly important for plan sponsors, ... more As the world’s population lives longer, it will become increasingly important for plan sponsors, retirement advisors, regulators, and financial firms to focus closely on how older persons fare in the face of rising difficulties with cognition and financial management. This book offers state-of-the-art research and recommendations on how to evaluate when older persons need financial advice, help them make better financial decisions, and to identify policy options for handling these individual and social challenges efficiently and fairly. This latest volume in the Pension Research Council series draws lessons from theory and practice, and will be of interest to employees and retirees, consumers and researchers, and financial institutions working to design better retirement plan offerings.
Risk infuses everything we do so it goes almost without saying (but I’ll say it anyway) that risk... more Risk infuses everything we do so it goes almost without saying (but I’ll say it anyway) that risk and retirement are highly intertwined topics. If we define what retirement researchers and practitioners do as illuminating and improving lifetime financial security, then risk is at its heart. How can we improve the chances of good outcomes while accounting for, or more hopefully controlling for, the risk of poor outcomes?
Under the traditional approach to defined benefit plans, well-intended disciplinary and regulator... more Under the traditional approach to defined benefit plans, well-intended disciplinary and regulatory regimes have sought to restrict discretion, reduce uncertainty and risk, and protect workers and employers. Nevertheless, the discouraging state of defined benefit plans indicates that past efforts have gone awry. This chapter suggests that a new approach to defined benefit plans could resurrect the key elements required for retirement income security, rather than pursuing piecemeal reform.
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